JED, Vol. 20, No.1, April 2018, pp. 68-85
Personality, Value, and Intergenerational Socioeconomic Mobility: Evidence from Vietnam
Abstract:Intergenerational socioeconomic mobility is often attributed to cognitive factors like education,
IQs, and heritability. Personality and values are believed to be heritable and stable over time, thus
affecting the change in socioeconomic status among generations. This empirical study identifies
the role of personality, values, and the interaction between them on the disparity in socioeconomic
status between parents and children in Vietnam. Our research is based on a randomly-sampled
survey of 450 students in different programs at the National Economics University (NEU).
The estimation results indicate that besides education, most traits, among the big five traits,
except openness and neuroticism, have significant positive effects on socioeconomic mobility.
Furthermore, since values are considered to be behavioral manifestations of personality, we take
into account the interactive effects of personality traits and personal values on socioeconomic
mobility. It is interesting that we found many significant relations of personality-value interaction
to socioeconomic mobility between generations. Additionally, gender inequality and the urbanrural
gap are also illustrated in individuals’ socioeconomic positions.
Keywords:Big Five personality traits; Intergenerational socioeconomic mobility; personality; Schwartz value theorem; value.